It is also known as prescriptive economi
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Normative economics statements are rigid and prescriptive in nature. They often sound political or authoritarian, which is why this economic branch is also called "what should be" or "what ought to be" economics.
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Normative economics statements are rigid and prescriptive in nature. They often sound political or authoritarian, which is why this economic branch is also called "what should be" or "what ought to be" economics.
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